TIDMBMS
RNS Number : 6309N
Braemar Shipping Services PLC
01 October 2021
1 October 2021
BRAEMAR SHIPPING SERVICES PLC
("Braemar", the "Company" or the "Group")
Issue of Shares / PDMR Shareholding
Braemar (LSE: BMS ), a leading international Shipbroker and
provider of expert advice in shipping investment, chartering, risk
management and logistics services, announces that application has
been made for 157,339 new ordinary shares of 10p each in the
capital of Braemar ('Ordinary Shares') to be admitted to the
Official List of the UK Listing Authority and to trading on London
Stock Exchange's Main Market for listed securities ('Admission').
It is expected Admission will become effective and trading will
commence at 8.00 a.m. on 7 October 2021. The new Ordinary Shares
will rank pari passu with the existing Ordinary Shares of the
Company.
The new Ordinary Shares have been allotted as part of the agreed
rescheduling of deferred consideration amounts owed by Braemar in
relation to its acquisition of Braemar Naves, as previously
announced on 3 June 2021. The new Ordinary Shares have been
allotted in satisfaction of amounts due for repayment to persons
closely associated with Axel Siepmann and Mark Kuchenbecker, who
are Managing Directors of Braemar Naves and PDMRs of the Company.
The new Ordinary Shares were subscribed for at 275.41p per share,
which was calculated using the volume weighted average price per
Ordinary Share for the 30 consecutive trading days prior to
subscription.
Following this share issue, the total holding of Ordinary Shares
of each of Axel Siepmann and Mark Kuchenbecker (including those
persons closely associated with them) is as follows:
Name Title Shares % of Company's
issued share
capital
=================== =================== =========== ===============
Managing Director
Axel Siepmann of Braemar Naves 106,660(1) 0.33%
=================== =================== =========== ===============
Managing Director
Mark Kuchenbecker of Braemar Naves 106,660(1) 0.33%
=================== =================== =========== ===============
(1) Includes 55,981 Ordinary Shares held by an entity jointly
owned by Axel Siepmann and Mark Kuchenbecker
Connected parties of Axel Siepmann and Mark Kuchenbecker
continue to hold convertible loan notes issued as consideration for
the acquisition of Braemar Naves in 2017 amounting to approximately
EUR5.3m with one further tranche of EUR0.7m due to be issued in
September 2022. Further information on these loan notes and their
redemption dates can be found in the 3 June 2021 announcement, the
Company's Annual Report and the original acquisition circular, each
of which are available on the Company's website.
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse Regulation, which is part
of UK law by virtue of the European Union (Withdrawal) Act
2018.
Following Admission, the Company's issued share capital will
comprise 32,152,674 Ordinary Shares, which figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules. The
Company does not hold any shares in treasury.
For further information, contact:
Braemar Shipping Services
James Gundy, Group Chief Executive Officer Tel +44 (0) 20
3142 4100
Nick Stone, Group Chief Financial Officer
Peter Mason, Company Secretary
finnCap
Matt Goode / James Thompson Tel +44 (0) 20
7220 0500
Buchanan
Charles Ryland / Victoria Hayns / Stephanie Tel +44 (0) 20
Whitmore / Matilda Abraham 7466 5000
Notes to Editors:
About Braemar Shipping Services Plc
Braemar is a leading international Shipbroker and provider of
expert advice in shipping investment, chartering and risk
management. Braemar employs approximately 520 people in 30 offices
worldwide across its Shipbroking, Financial and Logistics
divisions.
Braemar joined the Official List of the London Stock Exchange in
November 1997 and trades under the symbol BMS.
For more information, including our investor presentation, visit
www.braemar.com
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Siepmann & Cie. Verwaltungs GmbH
------------------------- ----------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Person closely associated with Axel
Siepmann, Managing Director of Braemar
Naves
------------------------- ----------------------------------------
b) Initial notification Initial
/Amendment
------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
-------------------------------------------------------------------
a) Name Braemar Shipping Services Plc
------------------------- ----------------------------------------
b) LEI 213800EV6IKTTHJ83C19
------------------------- ----------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
-------------------------------------------------------------------
a) Description of Ordinary shares of 10p each
the financial
instrument, type
of instrument GB0000600931
Identification
code
------------------------- ----------------------------------------
b) Nature of the Issue of ordinary shares of 10p
transaction each
------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
275.41p 50,679
------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume 50,679 ordinary shares of 10p each
- Price GBP139,576.20
------------------------- ----------------------------------------
e) Date of the transaction 30 September 2021
------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kesone Verwaltungsgesellschaft mbH
------------------------- -------------------------------------
2 Reason for the notification
----------------------------------------------------------------
a) Position/status Person closely associated with Mark
Kuchenbecker, Managing Director
of Braemar Naves
------------------------- -------------------------------------
b) Initial notification Initial
/Amendment
------------------------- -------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
----------------------------------------------------------------
a) Name Braemar Shipping Services Plc
------------------------- -------------------------------------
b) LEI 213800EV6IKTTHJ83C19
------------------------- -------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
----------------------------------------------------------------
a) Description of Ordinary shares of 10p each
the financial
instrument, type
of instrument GB0000600931
Identification
code
------------------------- -------------------------------------
b) Nature of the Issue of ordinary shares of 10p
transaction each
------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
275.41p 50,679
------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 50,679 ordinary shares of 10p each
- Price GBP139,576.20
------------------------- -------------------------------------
e) Date of the transaction 30 September 2021
------------------------- -------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------- -------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name CFC Beteiligungsgesellschaft mbH
------------------------- -------------------------------------
2 Reason for the notification
----------------------------------------------------------------
a) Position/status Person closely associated with Axel
Siepmann and Mark Kuchenbecker,
Managing Directors of Braemar Naves
------------------------- -------------------------------------
b) Initial notification Initial
/Amendment
------------------------- -------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
----------------------------------------------------------------
a) Name Braemar Shipping Services Plc
------------------------- -------------------------------------
b) LEI 213800EV6IKTTHJ83C19
------------------------- -------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place
where transactions have been conducted
----------------------------------------------------------------
a) Description of Ordinary shares of 10p each
the financial
instrument, type
of instrument GB0000600931
Identification
code
------------------------- -------------------------------------
b) Nature of the Issue of ordinary shares of 10p
transaction each
------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
275.41p 55,981
------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 55,981 ordinary shares of 10p each
- Price GBP154,179.49
------------------------- -------------------------------------
e) Date of the transaction 30 September 2021
------------------------- -------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------- -------------------------------------
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END
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